Keygent Advises on Menlo Park City School District Bond Refunding
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Keygent was recently mentioned by The Almanac in its article titled, “Menlo Park school district bond refinancing saves $3.7 million.” Keygent served as financial advisor to Menlo Park City School District (the “District”) on its school bond refunding, which will save the District’s taxpayers over $3.7 million in the form of lower property tax bills. The District was able to achieve savings by replacing prior bonds that had an average interest rate of 4.5% with new bonds that have an interest rate of 2.6%.
As part of the bond issuance process, Keygent assisted the District with updating its credit rating with Moody’s. The District’s ‘Aaa’ rating was affirmed, which is Moody’s highest credit rating.